Oman Arab Bank (OAB) has introduced a new direct debit product in an endeavour to “streamline and automate transactions while enhancing payment security standards”.
The service, designed for both OAB’s individual and corporate clients, is anticipated to simplify the bank’s digital payment operations by automating recurring bill payments and providing “convenience in banking transactions”, according to the bank’s latest statement.
OAB’s customers will be able to set up their direct debit through the bank’s digital banking platform or mobile app.
Furthermore, thanks to the new solution, the bank says its clients will no longer need to write checks or manually manage bill payments.
Commenting on the new direct debit system, Khalid Al Amri, chief retail banking officer at OAB, states that the initiative “prioritises customer satisfaction by reducing the risks of debts and enhancing fraud protection measures, thus ensuring a seamless and reliable banking experience”.
“By investing in the latest financial technologies, we are aligning with Oman’s digitisation efforts in financial services,” adds Al Amri.
Established in 1984, OAB operates a wide array of financial services throughout Oman, including investment and retail banking, corporate and trade finance, and Islamic banking, supported by over 65 branches and offices, along with 152 ATMs.
Additional advancements in the Omani digital banking landscape include Oman Housing Bank’s recent partnership with Swiss vendor Temenos, announced in April, which seeks to modernise its core banking platform.
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